Warren Buffett: Berkshire dumps all airline stocks

Berkshire Hathaway (Warren Buffett) said that the conglomerate has sold all positions in the U.S. airline industry because of coronavirus. The news was announced on Saturday afternoon from Omaha came after Berkshire Hathaway reported first-quarter earnings.

The total position of $4 billion dollars, included positions in United, American, Southwest and Delta Airlines. In total this represents about 2% of the current total value of the Berkshire Hathaway portfolio.

Berkshire had the following positions:

42.5 million American Airlines shares

58.9 million Delta Airlines shares

51.3 million Southwest shares

21.9 million United Airlines shares

Berkshire had a record $137 billion in cash and equivalent instruments on its balance sheet at the end of the first quarter, up from about $127 billion at the end of the year.

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